Treasurys Trade Steady, Below Multiyear Highs; Jobs Data Awaited
Dow Jones
Yesterday
0644 GMT - Treasury yields are steady, staying below Thursday's multiyear highs ahead of key U.S. jobs data due at 1230 GMT. Treasurys are helped by easing expectations for an interest-rate hike by the Federal Reserve this month and by safe-haven flows as French-German government-bond yield spreads surge on French fiscal worries. Fed governor Philip Jefferson said at an event that the Fed may need more time to assess the economy before making additional policy adjustments. U.S. money markets price a probability of just 26% that the Fed will raise rates this month, down from around 70% early this week, LSEG data show. The 10-year Treasury yield is steady at 5.235%, pulling back from Thursday's 24-year high of 5.344%, Tradeweb data show.
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